TE Connectivity Ltd. (NYSE:TEL) Plans Quarterly Dividend of $0.71

TE Connectivity Ltd. (NYSE:TEL) declared a quarterly dividend on Thursday, March 13th, RTT News reports. Stockholders of record on Wednesday, May 21st will be paid a dividend of 0.71 per share by the electronics maker on Tuesday, June 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.01%. This is a 9.2% increase from TE Connectivity’s previous quarterly dividend of $0.65.

TE Connectivity has increased its dividend by an average of 8.7% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. TE Connectivity has a dividend payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TE Connectivity to earn $8.91 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 29.2%.

TE Connectivity Price Performance

Shares of TEL opened at $141.20 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company’s 50-day moving average is $148.46 and its 200-day moving average is $148.57. TE Connectivity has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The firm has a market capitalization of $42.13 billion, a PE ratio of 22.56, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company posted $1.84 earnings per share. TE Connectivity’s revenue was up .1% compared to the same quarter last year. Equities analysts forecast that TE Connectivity will post 8.05 EPS for the current year.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TE Connectivity

A hedge fund recently bought a new stake in TE Connectivity stock. Brighton Jones LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,736 shares of the electronics maker’s stock, valued at approximately $820,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial reduced their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Citigroup raised their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Wells Fargo & Company raised their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $167.00.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.